Leaning in, looking long: US execs shift to long-term, US-focused strategies amid uncertainty
Thursday, May 29, 2025 — The first 100 days of the Trump administration have been marked by volatility and uncertainty — with mixed signals as to when it will let up. According to PwC’s May 2025 Pulse Survey, executives are adapting in real time, executing short-term tactical moves while laying the groundwork for longer-term, US-focused strategies.
Despite policy uncertainty and ongoing volatility, on average, 53% of companies have moved beyond the planning phase on key actions such as cost reduction, budget adjustments and supplier diversification. At the same time, 57% of executives say they’re missing opportunities because they can’t make decisions fast enough.
Strategic shifts driven by evolving policy landscape
Executives cite US economic policy as the top factor influencing near-term strategy decisions, with 48% ranking it in their top three drivers. Regulatory uncertainty around AI and data usage (44%), as well as ongoing trade and tariff tensions (41%), round out the other top drivers.
The message is clear across industries: Policy isn’t just background noise — it’s prompting companies to actively reevaluate how and where they operate.
Sixty percent of consumer markets (CM) executives say their companies are stockpiling key materials in response to the current tariff and trade environment.
Sixty-two percent of industrial products (IP) executives say they’ve taken initial steps or beyond to diversify suppliers.
More than half (53%) of tech, media and telecom executives say AI and data regulation is a top three driver of short-term strategy shifts.
Tactical execution meets long-term strategic planning
Executives are looking to balance decisive, short-term moves with longer-term strategic bets. They are acting quickly to manage near-term disruptions — 62% are implementing cost reductions, 59% are adjusting forecasts and budgets and 58% are diversifying suppliers.
Many are going further. About half (51%) are pursuing mergers and acquisitions, and nearly as many (48%) are modifying their tax structures to adapt to potential policy changes. Notably, 83% of executives say they’re adopting a more long-term, US-focused business strategy. Three quarters (76%) are reconsidering their presence in China.
Tariffs and margin pressure fuel structural changes
As tariff-related costs rise, margin pressure is now one of the top risks to business — with survey respondents ranking it just behind cyber threats and macroeconomic volatility. In response, 65% of executives report renegotiating supplier pricing or have plans to do so, while 60% say the same about passing cost increases on to customers despite growing price sensitivity across sectors. Nearly half (48%) are exploring or implementing onshoring strategies, and 62% say they’re increasing sourcing from US suppliers or plan to do so.
These responses reflect more than reactive cost management. They also reflect early signs of a broader rebalancing of supply chain and operational priorities.
Inaction is not an option
Today’s leading executives are seizing the moment to act, even in the absence of perfect clarity. They’re building future-focused strategies that balance speed with sustainability, risk with resilience and short-term execution with long-term positioning. The message from the C-suite is clear: Volatility isn’t the greatest risk — inaction is.
“Business leaders aren’t waiting for perfect clarity. Even amid ongoing volatility, they’re taking clear, deliberate steps to adapt and build resilience,” said Kathryn Kaminsky, PwC US Chief Commercial Officer. “We’re seeing executives move quickly — balancing speed with long-term thinking. It’s not just about managing uncertainty, but about emerging stronger and ready to grow.”
About the survey:
PwC Pulse Survey-100 days in: What’s next for business
Between May 1 and May 8, 2025, PwC surveyed 678 US executives, including CFOs and finance leaders (12%), tax leaders (10%), risk management leaders, including CROs, CAEs and CISOs (12%), CIOs, CTOs and technology leaders (13%), CHROs and human capital leaders (12%), COOs and operations leaders (12%), corporate board directors (9%), CMOs and marketing leaders (12%) and CEOs (7%). Respondents were from public and private companies in six sectors: industrial products (29%), consumer markets (15%), financial services (20%), technology, media and telecom (15%), health industries (6%), energy and utilities (9%), and other (6%). The Pulse Survey is conducted on a periodic basis to track the changing sentiment and priorities of business executives. You can view findings and insights by visiting: www.pwc.com/us/Pulse100Days
About PwC
At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help clients build, accelerate and sustain momentum. Find out more at www.pwc.com.
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100 days in: What’s next for business
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